How effective, efficient and explainable is your current sanctions compliance programme?
International sanctions represent a critical area of regulatory risk. As a result, regulators are increasingly prescriptive about the measures to implement within sanctions compliance programmes.
Organisations should therefore keep in mind the following three distinct yet interdependent dimensions when implementing a sanctions screening model:
- Effectiveness: describes the ability of the screening programme to detect risks through a combination of people, processes and technology.
- Efficiency: enables effective compliance in a cost-effective manner using an optimal number of resources.
- Explainability: demonstrates an understanding of the sanctions screening process to regulators.
Listen to our webcast, sponsored by the Association of Certified Financial Crime Specialists, to explore the challenges of effective, efficient and explainable sanctions compliance programmes and learn how technology can help your institution develop dependable sanctions screening models.